When President Donald Trump said that tariffs on Canada and Mexico will go forward as planned, in addition to higher taxes on China, stocks increased Thursday despite market trepidation.
When Nvidia released its fourth-quarter earnings, the market bellwether stock fell. The S&P 500 saw an increase of 0.3%. By 236 points, or 0.6%, the Dow Jones Industrial Average increased. By 0.1%, the Nasdaq Composite increased.
Following the expiration of the one-month moratorium, Trump declared in a post on Truth Social that the proposed 25% tariffs on Canada and Mexico would go into effect on March 4.
The two nations have not yet sufficiently reduced the flow of drugs across the border, according to Trump. The president added that China will be subject to an additional 10% tax on top of the 10% tariffs already imposed by the United States.
Source (CNBC)
